Morning Coffee Pre-Market Wall Street News

Berkshire Hathaway’s 13F filing released. Berkshire Hathaway's (BRK.A/Brk.B) 13F filing for the first quarter shows that Warren Buffett added to his company’s holdings which now stand at $85 billion, up from $75 billion in the previous quarter. A new addition to the holdings was Chicago Bridge & Iron (CBI), $400 million/6.5 million shares. Chicago Bridge is an energy infrastructure company and a provider of government services.  The company provides integrated engineering, procurement and construction (EPC) services.  The company sold its holdings in General Dynamic (GD) and Archer Daniels Midland (ADM). Holdings in Mondelez International (MDLZ), a spinoff from Kraft (KRAFT) was cut by 45%. Approximately 3% of Bank of New York Mellon (BK) shares were sold. Buffett added to his existing positions in Davita Health Care (DVA), DirecTV (DTV), IBM (IBM) and Wells Fargo (WFC). CBI Pre-market: 59.49 +1.73 (3.00%) BRK.B Pre-market: 112.50 -0.27 (-0.24%)

Upgrades

Constellation Brands (STZ): ISI Group raised their rating from Buy to Strong Buy and placed a target price of $60.00 on the company. Pre-market: 50.99 +0.75 (1.49%)

Constellation Brands (STZ): Stifel raised their rating from Hold to Buy and placed a target price of $64.00 on the company. Pre-market: 50.99 +0.75 (1.49%)

Ford Motor (F): Craig-Hallum raised their rating from Hold to Buy and raised their target price from $15.00 to$18.00. Pre-market: 14.79 +0.12 (0.82%)

Molson Coors (TAP): Stifel raised their rating from Hold to Buy and placed a target price of $60.00 on the company. After Hours: 51.06 0.00 (0.00%)

SunPower (SPWR): Cowen raised their rating from Neutral to Outperform. Pre-market: 22.06 +1.41 (6.83%)

Downgrades

Google (GOOG): S&P lowered their rating from 4 stars to 3 stars. Pre-market: 922.40 +6.51 (0.71%)

Medtronic (MDT): Credit Suisse lowered their rating from Outperform to Neutral.

Coverage Initiated

Amazon.com (AMZN): Lazard Capital initiated coverage with a Buy rating and target price of $310.00. Pre-market: 267.00 +0.44 (0.17%)

Apple (AAPL): Susquehanna initiated coverage with a Neutral rating and target price of $480.00. Pre-market: 425.41 -3.44 (-0.80%)

eBay (EBAY): Lazard Capital initiated coverage with a Buy rating and target price of $65.00. Pre-market: 56.71 +0.06 (0.11%)

ValueClick (VCLK): Northland Capital initiated coverage with an Underperform rating and target price of $21.00. After Hours: 27.12 +0.03 (0.11%)

Earning Reports

Cisco Systems (CSCO): Reported EPS of $0.51 beating estimates by +$0.02. Pre-market: 23.47 +2.26 (10.66%)

Skechers USA (SKX): Reported EPS of $0.21 beating estimates by +$0.04. After Hours: 21.41 0.00 (0.00%)

Kohl’s (KSS): Reported EPS of $0.66 beating estimates by +$0.09. Pre-market: 53.05 +3.37 (6.78%)

Wal-Mart (WMT): Reported EPS of $1.14 missing estimates by -$0.01. Pre-market: 78.22 -1.64 (-2.05%)

Markets: 
Futures at 7:00: Dow +0.03%. S&P -0.05%. Nasdaq +0.03%. Crude -0.64% to $93.70. Gold -1.73% to $1371.00.

Europe: London +0.22%. Paris -0.16%. Frankfurt +0.35%. 

Asia: Japan -0.39% to 15037. Hong Kong +0.17% to 23082. China +1.21% to 2251. India +0.17% to 20247.